One of the country’s biggest suppliers of energy-from-waste technology Energos has gone into administration.
Administrators RSM blamed “cashflow issues caused by contractual disputes with two main contractors” as the reason for the company’s collapse.
The Warrington-based firm had four ongoing EfW contracts, including a contract to supply technology for Interserve’s troubled Glasgow Recycling and Renewable Energy Centre.
Interserve revealed in May that it had taken a £70m hit on the project, citing ”challenges with the supply chain” as the reason for the losses.
Energos also held a £65m supply contract on Interserve’s £145m Derby gasification plant in 2014.
Construction News reported today that an unnamed buyer pulled out of a deal to buy Interserve’s Ellesmere Port offsite manufacturing facility.
Interserve announced in May that it was to close the site following “economic challenges” in the EfW and gas and oil sectors.
Other ongoing contracts include EfW plants in Milton Keynes and the Isle of Wight for Ameycespa, Amey’s joint venture with Spanish waste giant Cespa.
Energos employs 42 people from its Warrington office.
RSM Restructuring Advisory partner and one of the joint administrators Lindsey Cooper said: “It’s early days, but we are working with our professional advisers to review the status of the current contracts with a view to maximising the returns to creditors.”